Mempool

In blockchain terms, a mempool or memory pool is an electronic file which contains unconfirmed data about uncomfirmed cryptocurrency transactions.

Transactions are recorded in a mempool after they have been verified by available nodes, but have not yet been approved by a miner. Once a mining node has successfully completed the decryption process, the transaction is recorded in a newly created block on the blockchain and published on the distributed ledger.

In the case of bitcoin and many other cryptocurrencies, priority for the processing of transactions recorded in the mempool by miners is based on the size of voluntary processing fees (see: bitcoin fee).

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Daniel Dreier is editor and personal finance expert at moneyland.ch.

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